 "Kerala's masala bonds could be one-off offering after the tax rebate window")
Often, mutual funds close one scheme and amalgamate it with another scheme without paying STT. However, the investor makes LTCG. Is such LTCG exempt from tax? Does the investor have to show the gain in exempt income column in his tax returns? What will be the cost in case of actual redemption - original or switched?
Generally, as an investor, you make a choice to transfer your funds from one scheme of mutual fund to another and the resultant gain, if any, is liable for taxation as capital gain. However, pursuant to guidelines issued by the Securities Exchange Board of
